PEL.L Regulatory News (PEL)

Paragon Entertainment Limited

Olympic Museum Successful Opening

Paragon Entertainment Limited (AIM: PEL), the attractions design, production, fit-out and operations business, is pleased to announce that The Olympic Museum in Lausanne has been successfully reopened.

The Company's design and build subsidiary, Paragon Creative Ltd, was appointed in January 2012 following a formal tender process. Paragon was the main design development and fit-out contractor responsible for the exhibition.

Since signing the contract in 2012, Paragon Creative Ltd, has delivered the £7m project on time, and within budget.

Mark Pyrah, CEO of Paragon Entertainment said:

"Paragon Creative is a world-leader in the industry for visitor attraction design and build projects. The team were able to manage a complex, high-profile project, and deliver in a timely and cost effective manner to an outstanding level of quality. Working with a world-renowned organisation such as the IOC is a significant endorsement for the Group and its capabilities. Our expansion last year means that Paragon is now a very significant player."

Francis Gabet, Director of The Olympic Museum commented:

"We wanted a company that could help cement a true team effort and this is what we got. We required the project to be creatively driven by a main contractor but needed them to have the creative ability to control our ideas, content and budgets. This ability is hard to find in a main contracting company but this is where Paragon excelled."

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Notes to Editors:

Paragon Entertainment Limited (AIM:PEL) is an award winning provider of attraction services from initial design and production through to the direct operation and development of themed attractions.

It is the holding company for:

§ Paragon Creative Limited, a visitor attraction design, production and fit-out business;

§ Paragon Communications, who provides graphic design and marketing services; and

§ The Visitor Attraction Company (TVAC), an attraction consultancy, feasibility and operations company.

The Group's projects have included:

§ The design and build of the Titanic exhibition, Belfast's new £97 million visitor attraction;

§ The build of the Wallace and Gromit ride at Blackpool Pleasure Beach;

§ Through licensing agreement with Hasbro, the design, build and operation of several Nerf attractions;

§ Acting as the lead thematic and interactive contractor for the Florya Aquarium in Istanbul.

The Group listed on AIM in 2011.

Further information can be found at: http://www.paragonent.com/